First look: CFPB proposes debt collection rules

Consumer Protection

Tuesday, May 07, 2019

The Consumer Financial Protection Bureau (CFPB) issued a notice of proposed rulemaking (NPRM) to implement the Fair Debt Collection Practices Act (FDCPA) on Tuesday, proposing regulations on communications between debt collectors and consumers, as well as technology and disclosures.

The NPRM’s release came a day before Director Kathy Kraninger’s scheduled town hall to discuss the bureau’s plans for re-engaging in debt collection rulemaking.

Find out what the bureau is proposing and what is missing from its previous proposals.

The Federal Reserve Board, Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. have issued information on the host state loan-to-deposit ratios, which are used to determine compliance under Section 109 of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994. Review the ratios in Dodd Frank Update’s Library.